Are you wondering if you should start building wealth even if you're in debt? You're not alone! It's a common question with a not-so-simple answer.
In today's episode, I dive into the complexities of managing debt while investing for your future. I explore the two personality traits of all debt, the importance of having a debt payment plan, and why building wealth is as much a psychological game as it is a financial one. I also introduce the wealth creation curve and explain why starting to invest early, even with debt, can be beneficial in the long run.
Ready to take control of your debt and start building wealth simultaneously? Tune in to the full episode now!
IN TODAY’S EPISODE, I DISCUSS: - The two personality traits of all debt and how they impact your finances and mindset - The importance of having a debt payment plan in place before investing - Introducing the wealth creation curve and the significance of the "wealth flatline" phase
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------------------------------------------------------------------- ★ WHO IS MEL ABRAHAM ★ -------------------------------------------------------------------
I’m a CPA by education but an entrepreneur by exhilaration, entrepreneur and author of the #1 Bestseller, The Entrepreneur's Solution: The Modern Millionaire's Path to More Profit, Fans & Freedom. I’m the founder of Thoughtpreneur™ Academy & Business Breakthrough Academy where I help entrepreneurs bring their businesses to the world and build the lifestyle that they want. I have helped and advised some of today’s top entrepreneurs to build their businesses, create their wealth and find financial independence.
After finding a cancerous tumor in my bladder larger than a baseball in June 2019, I began to openly teach The Affluence Blueprint™ because my cancer journey spotlighted the immediate and urgent need for entrepreneurs to find “financial liberation” and peace of mind. Most entrepreneurs are building a financial house of cards and don’t even realize it…and traditional financial advice will not work for them.
==== Time Stamps ==== 00:00 Entrepreneur show for high-level success and liberation. 04:05 Achieve money momentum, stay in the game. 06:52 Develop saving habits, prioritize debt repayment. 11:38 Choose snowball or avalanche method for debt. 15:16 Start saving, invest responsibly, live within means. 17:49 Build wealth in debt is possible, subscribe.
